Hours after President Trump said Sunday he had "second thoughts" about escalating the trade war with China, the White House sought to explain his remark because it was...Politicsread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
Despite Kudlow's expectations, China said on Saturday that it strongly opposes Trump's decision to levy additional tariffs on $550 billion worth of Chinese goods, and warned...Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
The dollar gained on Monday as an influential U.S. Federal Reserve official expressed confidence that rising wages would help revive domestic inflation, which has shown signs of softening recently.
The yen fell to two-week lows against the greenback and the euro after officials of the Bank of Japan at a meeting on Friday downplayed the likelihood that the bank would begin to roll back emergency stimulus to support the economy.
Remarks by New York Fed President William Dudley on Monday that tightening in the labor market should help drive up inflation helped offset concerns by some investors that stubbornly low inflation would not allow policy-makers to raise rates further the rest of this year.
"The Fed doesn't seem to be too concerned about the recent pullback in the inflation data. They are committed to policy normalization," said Eric Viloria, currency strategist at Wells Fargo Securities in New York.
Last week, the Fed, as expected, raised key overnight borrowing costs by a quarter point and left the door open for another rate increase later this year. It also provided details on its plan to reduce its bond purchases in a bid to shrink its $4.5 trillion balance sheet.
"Inflation is a little lower than what we would like, but we think that if the labor market continues to tighten, wages will gradually pick up, and with that inflation will gradually get back to 2 percent," Dudley told a local business group in Plattsburg, New York.
Traders raised their outlook on a rate hike by the Fed's Dec. 12-13 policy meeting to 47 percent from 41 percent late on Friday, CME Group's FedWatch tool showed.
The dollar index, which gauges the dollar against six other currencies, was up 0.4 percent at 97.55.
The euro was down 0.46 percent versus the greenback, to $1.1146, while against the yen the dollar increased 0.67 percent, at 111.58 yen.
The euro was up 0.14 percent against the yen, at 124.33 yen.
Positioning data showed net bullish bets on the euro reached their highest level in more than six years last week.
There was no discernible boost for the single currency from the landslide victory of French President Emmanuel Macron's government in parliamentary elections on Sunday.
Sterling declined 0.4 percent to $1.2732 as Britain began formal negotiations on its planned exit from the European Union. The UK ruling Conservative Party's loss of its parliament majority earlier this month raised speculation of a drift toward a "soft Brexit," which had supported the pound.
Many analysts, however, expect developments from the talks would hurt sterling.